Before a Texas Corporation Can File for Bankruptcy the Board of Directors Must Sign a Unanimous Resolution

A Texas corporation can only file bankruptcy if a resolution is signed by all members of a the board of directors.  Other than calling a special meeting of the board of directors which there is seldom time to do, the unanimous resolution is needed for the corporation to have the authority to file.  The first thing to do is to go over the articles of incorporation and all subsequent documents appointing members of the board of directors to make sure there are no others.  Note that there can be officers such as President, CEO, and Secretary who are not directors.  Just make sure all directors have signed the resolution.  A simple one page form that I have is sufficient.  If the corporation is organized under the laws of another state then the requirements can be different so check with an attorney such as myself for specific requirements.